As per this study the Global Digital Health Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Digital Health is a type of technology which is concerned with healthcare systems through hardware and software solutions and services using communication modes such as smartphones, web-based analysis, emails, etc. It involves the use of information and communication technologies like telehealth and m-health to help address the health problems and challenges faced by patients. Digital Health technology is used to enhance the efficiency of personalized medicines and healthcare deliveries.
The rapid technological advancements in healthcare IT such as cloud-based storage system and increasing adoption of smartphones and tablets by healthcare professionals to track and monitor patient health and history are major factors driving market growth. However, rising security concerns for patient data such as cybersecurity threats, privacy breach including uncoordinated individual attempts are expected to hinder digital health market growth over the coming years. Whereas, increasing venture capital funding including private equity and corporate venture capital in the health IT sector will escalate the market growth over the forecast timeframe.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of digital health.
The broad digital health market has been sub-grouped into product type, component and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product Type
- Healthcare Information Systems
- Wearable Devices
By End User
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for digital health in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Digital Health Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the digital health market include Agfa-Gevaert N.V., AT&T Inc., Allscripts Healthcare Solutions Inc., Cerner Corp., GE Healthcare, McKesson Corp., Philips Healthcare, Cisco Systems, Siemens Healthineers. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.